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GIA announces the release of a comprehensive global report on Terminal Blocks markets. Global market for Terminal Blocks is projected to reach US$3.7 billion by 2020, driven by effervescent product innovation, strong demand from developing markets, and expanding applications in end-use sectors such as semiconductors, electronics, power generation, telecommunications, automotive, and commercial/residential buildings.

Terminal Blocks: A Global Strategic Business Report

San Jose, California (PRWEB)February 25, 2014

Follow us on LinkedIn - Terminal blocks represent an economical and convenient way of connecting wires in an electric circuit from a single input to multiple devices. Terminal blocks are particularly significant for electronic devices which require a number of wires to be connected between components to achieve the desired output. Originally used in telecommunication and automotive industries, terminal blocks are now a vital component in a wide range of industries. Though terminal blocks have been available for a long time, they remain the preferred choice among all types of interconnect solutions. Terminal blocks presently find use in varied applications, ranging from electronic digital products and household products to large industries such as communications, electrical power, rail transport, and ship building, among others.

Development of new applications in mobile/wireless equipment, increasing adoption in telecom infrastructure, and rising spends in the defense sector, present significant growth opportunities. Rapid development of the electronics industry and launch of increasingly complex, advanced and compact electronic devices are contributing to the development of advanced terminal block products. Continuous advancements in the form of miniaturization, development of simple and safe design, through-hole reflow technology as well as low installation costs bode well for continued market growth. Spring type and push-in type terminal blocks are expected to find increased adoption in the coming years, encouraged by advantages such as ease of use and reduced installation costs. Demand is also expected to rise for multi-purpose, multi-function, intelligent, finger-safe terminal blocks, while micro-miniature terminal blocks are finding favor owing to benefits such as low costs, space conservation, reduced maintenance, and safe wiring. Another trend seen in the market is the growing preference for removable terminal blocks over fixed variants, largely due to the flexible interconnection advantages offered.

As stated by the new market research report on Terminal Blocks, Europe represents the largest market worldwide. Asia-Pacific and Latin America are forecast to witness strong growth in the coming years driven by the continued focus on industrial automation in most of the emerging countries including China, India, Brazil, and Indonesia. Asia-Pacific is poised to grow at the fastest CAGR of 5.6% over the analysis period led by China. Growth in China is driven by strong economic development, rising consumer confidence, increasing demand for electronic and electrical equipment and healthy automotive industry.

Sectional terminal blocks, manufactured using individual molded units with electrically conductive material, represents the largest product market. Sectional terminal blocks (including IEC DIN rail and NEMA blocks) are specifically designed for electrical termination of wire where circuit design flexibility is required. DIN terminal blocks are often used in industrial applications, owing to their ability to facilitate a broad spectrum of operations ranging from simple wire terminations to complex electronic assemblies. The market for PCB-mounted terminal blocks is poised to register the fastest growth over the forecast period with demand dynamics closely linked to trends in PCB production. A key factor spurring growth in PCB production is the escalating demand for mobile computing devices such as touchscreen tablet PCs and smartphones. The strong shift towards miniaturized PCBs as a result of increased demand for smaller and compact electronic devices such as in digital cameras, smartphones, and tablets, also influences opportunities in the market.

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.